Brain Implants Market

Market Overview:

The global brain implants market is expected to exhibit a growth rate (CAGR) of 9.4% during 2023-2028. The growing geriatric population, rising prevalence of neurological conditions, and introduction of advanced technologies represent some of the key factors driving the market.

Brain implants, also known as neural implants, are technological devices that connect directly to the biological brain of a patient to establish a biomedical prosthesis circumventing area in the brain. They are usually placed on the surface of the brain or attached to the cortex of the brain. They can send pulses of electricity to neurons to override native firing patterns and force the neurons to communicate in a different way. They assist in treating diseases, rehabilitating the body after injury, improving memory, and communicating with prosthetic limbs. They also aid in deep brain stimulation (DBS), wherein they electrically stimulate specific structures to reduce the symptoms of various brain-based disorders. They are used in animal experiments simply to record brain activities for scientific reasons. They are also utilized in creating interfaces between neural systems and computer chips, which are part of a wider research field called brain-computer interfaces.

Brain Implants Market Trends:

At present, there is a rise in the prevalence of neurological conditions, such as Alzheimer’s disease and epilepsy, among the masses across the globe. This, along with the increasing awareness about brain implant benefits and positive research outcomes, represents one of the key factors supporting the growth of the market. Besides this, the growing demand for brain implants, as it plays a crucial role in providing therapeutic solutions for depression, is offering a favorable market outlook. In addition, there is an increase in the number of individuals suffering from Parkinson’s disease who are not able to release adequate dopamine in the brain, which leads to walking problems, tremors, and stiffness. This, coupled with the rising geriatric population around the world, is strengthening the growth of the market. Moreover, various technologies, such as motor neuron prostheses, microelectrode arrays, and brain computer interfaces (BCIs), assist in improving patient mobility profile. In line with this, the introduction of advanced technologies, such as magnetic resonance imaging (MRI) safety-enabled brain implants and the launch of transdermal neuromodulation technology, is propelling the growth of the market.  Apart from this, the growing demand for brain implants due to better management of postoperative outcomes and long-term efficacy is positively influencing the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global brain implants market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product and application.

Product Insights:

• Deep Brain Stimulators
• Spinal Cord Stimulators
• Vagus Nerve Stimulators
   

The report has provided a detailed breakup and analysis of the brain implants market based on the product. This includes deep brain stimulators, spinal cord stimulators, and vagus nerve stimulators. According to the report, deep brain stimulators represented the largest segment.

Application Insights:

• Chronic Pain
• Epilepsy
• Parkinson’s Disease
• Depression
• Essential Tremor
• Alzheimer’s Disease
   

A detailed breakup and analysis of the brain implants market based on the application has also been provided in the report. This includes chronic pain, epilepsy, Parkinson’s disease, depression, essential tremor, and Alzheimer’s Disease. According to the report, chronic pain accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America (the United States and Canada) was the largest market for brain implants. Some of the factors driving the North America brain implants market included the increasing prevalence of neurological disorders, rising awareness about treatments, availability of highly skilled physicians, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global brain implants market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Abbott Laboratories, Aleva Neurotherapeutics SA, Boston Scientific Corporation, Cochlear Ltd., Edwards Lifesciences Corporation, Medtronic, Ndi Medical LLC, NeuroPace Inc., Nevro Corp., Synapse Biomedical Inc., Synchron Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the brain implants market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global brain implants market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the brain implants industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.